Tennessee Statutes
§ 12-4-704 — Interest
Tennessee·Title 12
(a)Interest shall accrue and be charged on payments overdue under § 12-4-703 at one and one-half percent (1½%) per month beginning on the day after payment is due.
(b)Interest which is unpaid at the end of each sixty-day period or at the end of any specified period provided by contract shall be added to the principal amount of the debt and shall thereafter accumulate interest.
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Legislative History
Acts 1985, ch. 57, § 1.
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